Question

3) If Rs 6450 is deposited in a bank at a
rate of 6 p.c.p.a how much money will be
returned at the end of a year? *​

Answer 1

$given \\ principle = 6450 \\ rate = 6\% \\ time = 1 \: year$

$amount ={ p(1 + \frac{r}{100} ) }^{t}$

$amount = 6450 {(1 + \frac{6}{100}) }^{1} \\ = > 6450 ( \frac{100 + 6}{100} ) \\ = > 6450 \times \frac{106}{100} \\ = > 6837$